Dividend paying stock: HDFC Bank on Saturday announced a dividend of ₹15.50 per equity share, which is highest in last 11 years. The private lender informed Indian exchanges about the recommendation of its Board of Directors at the Annual General Meeting (AGM) held on Saturday, April 23, 2022. The record date for finalisation of eligible shareholders for dividend payment has been fixed on 13th May 2022.
HDFC Bank informed about the proposal of dividend payment in exchange communication citing, “Pursuant to Regulations 30, 42 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time (“the Regulations”), we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 15.50 per equity share of Re. 1/- each fully paid up (i.e.1550 %) out of the net profits for the year ended March 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM”) of the Bank.”
“The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 13, 2022. Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to those shareholders, whose names appear in the Bank’s Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Friday, May 13, 2022,” HDFC Bank concluded.
In June 2011, HDFC Bank had announced a dividend of ₹16.50 per equity share, which is second highest ever dividend announced by the private lender since 20th April 2001.